Spanish government opens up credit line for investments in Angola

7 May 2014

The Spanish government has opened up a credit line of 75 million euros to support Spanish companies interested in investing in Angola, under the terms of a protocol signed in Luanda, Angolan state newspaper Jornal de Angola reported.

Signed by the director of Angola’s Business Promotion Institute, Sérgio dos Santos, and by the chairman of Spanish finance and development agency Companhia Espanhola de Financiamento do Desenvolvimento (Cofides), Salvador Marin, the funding is intended to help Spanish businesspeople interested in carrying out partnerships with Angolan companies and in setting up industrial units in Angola.

“We have stipulated a period of 60 months to finance Spanish companies interested in investing in the Angolan market, which clearly shows the Spanish government’s wish to support Spanish investment in Angola,” said Marin.

Spain’s Trade Secretary, Jaime Garcia-Legaz, who attended the signing, said that the Spanish government planned to support growth of two-way trade and tourism. He noted that Spain, which has a population of 47 million, receives 60 million tourists per year.

Meanwhile, a business forum attended by over 200 Spanish and Angolan businesspeople from the industrial, construction, transport, infrastructure, engineering, renewable energy and information technology sectors is due to end Wednesday. (macauhub/AO)